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What amount is debited to mac capital account

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Problem 1: Mac and Molly formed a partnership with capital contributions of Php80,000 and Php120,000, respectively. Their partnership agreement called for 1) Mac to receive a Php20,000 salary, 2) each partner to receive 10% based on initial capital contributions, and 3) the remaining income or loss to be divided equally. If net loss for the current year is Php44,000, what amount is debited to Mac's capital account?

a) Php30,000

b) Php14,000

c) Php22,000

d) none of the above

 

Reference no: EM132786883

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